Increasing Taxes Could Brake Inequality, According to IMF

Increasing Taxes Could Brake Inequality, According to IMF

Increasing Taxes Could Brake Inequality, According to IMF

11 de octubre de 2017, 17:23Washington, Oct 11 (Prensa Latina) The International Monetary Fund (IMF) called today to increase progressive taxation that includes raising taxes on higher incomes and universal basic taxes to favor the redistribution of wealth.

The IMF's Fiscal Monitor report estimated that fiscal policies and resource transfers could contribute to lessening the growing inequity suffered by many countries, where Latin America prays as the region of greatest inequality.

Those elements are key components for a more effective redistribution, the IMF said, and stressed the existence of a fiscal space in advanced countries to rise the maximum tax rates in the highest incomes, without slowing economic growth.

The supposed fall of global general inequality in the last 30 years - result of globalization and technological progresses - masks deep problems within countries, warned the organization and added that in that period in 53 percent of the nations grew the inequality of incomes.

The IMF's financial report was issued as part of its biannual meeting with the World Bank and urged to promote more inclusive growth in a time of uncertainty for many of the richest countries.

Previously, the IMF revised up global growth forecasts to 3.6 percent this year and 3.7 percent in the next one.

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Increasing Taxes Could Brake Inequality, According to IMF

11 de octubre de 2017, 17:23Washington, Oct 11 (Prensa Latina) The International Monetary Fund (IMF) called today to increase progressive taxation that includes raising taxes on higher incomes and universal basic taxes to favor the redistribution of wealth.

The IMF's Fiscal Monitor report estimated that fiscal policies and resource transfers could contribute to lessening the growing inequity suffered by many countries, where Latin America prays as the region of greatest inequality.

Those elements are key components for a more effective redistribution, the IMF said, and stressed the existence of a fiscal space in advanced countries to rise the maximum tax rates in the highest incomes, without slowing economic growth.

The supposed fall of global general inequality in the last 30 years - result of globalization and technological progresses - masks deep problems within countries, warned the organization and added that in that period in 53 percent of the nations grew the inequality of incomes.

The IMF's financial report was issued as part of its biannual meeting with the World Bank and urged to promote more inclusive growth in a time of uncertainty for many of the richest countries.

Previously, the IMF revised up global growth forecasts to 3.6 percent this year and 3.7 percent in the next one.